Updated Dental/Medical Office
For Sale
Contact for pricing
5307 W Devon Ave, Chicago, IL 60646
Recently updated office building set up for medical or professional services, with a large reception and multiple exam or office rooms.
Property Size2,100 SF
Price / SF$199.52
Days on Market149
Property Features for 5307 W Devon Ave
General Information
Standard status
Active
Size
2,100 SF
Class
C
Property subtype
Office, Retail
Zoning
B3-1
Investment Type
Owner/User
Additional Details
Highway Access
Yes
Office Units
5
Building Details
Year Built
1958
Stories
1
Tenancy
Single
Listing Agency:
Remax Legends
Listed By:
Edgar R Guerrero · License #IL 874979
Source:
Crexi
Added: May 27
Changed: Oct 1
Last Checked: Oct 20 at 6:31PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Remax Legends
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Investment Insights
Based on property information with market context.
This recently updated 2,100-square-foot office building was used as a dental office and is well suited for medical, dental, or other professional uses. The interior features a large reception area, space for approximately five offices, and about 4.5 bathrooms. Improvements include LED lighting, a sound surround system, newly painted walls, and a kitchen. Additional space is available in a finished basement.
The property is located in downtown Edgebrook at 5307 W Devon Ave. It has lots of street parking for clients and visitors. The surrounding area includes local businesses, restaurants, the Edgebrook Library, and the Metra strip along Devon/Lehigh, with nearby access to Highway exits for I-90 and the 94 Expressways.
For tenants or owners looking for a move-in ready professional environment, the layout supports patient or client flow with a prominent reception area and multiple private offices. The kitchen and finished basement provide added flexibility for staff use, storage, or additional operating space, while the street parking helps accommodate walk-in and appointment-based traffic.
The property is located in downtown Edgebrook at 5307 W Devon Ave. It has lots of street parking for clients and visitors. The surrounding area includes local businesses, restaurants, the Edgebrook Library, and the Metra strip along Devon/Lehigh, with nearby access to Highway exits for I-90 and the 94 Expressways.
For tenants or owners looking for a move-in ready professional environment, the layout supports patient or client flow with a prominent reception area and multiple private offices. The kitchen and finished basement provide added flexibility for staff use, storage, or additional operating space, while the street parking helps accommodate walk-in and appointment-based traffic.
Key Highlights
- Approximately 2,100 SF office building in a downtown Edgebrook location (built 1958)
- Recently updated, previously used as a dental office with a layout suited to medical/dental or professional services
- Large reception area plus 5 offices and a finished basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,821
Cap Rate
6.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$556,420
$556.4K
Cap Rate 7%
$397,443
$397.4K
Cap Rate 9%
$309,122
$309.1K
Market Conditions
NOI Build-Up for 2,100 SF
Gross rent
$50.4K $24.00/SF
− Vacancy
−$4.0K −$1.92/SF
EGI
$46.4K $22.08/SF
− OpEx
−$18.5K −$8.83/SF
NOI
$27.8K $13.25/SF
Area
Chicago, IL
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$556,420
Cap Rate 7%
$397,443
Cap Rate 9%
$309,122
Alternative Uses
Best Use
Office B
$643.7K
$563.2K – $751.0K
NOI $45,058 @ 7.0% cap · market cap 10.75%
Second Best
Healthcare Medical
$397.4K
$347.8K – $463.7K
NOI $27,821 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$990.1K
$866.4K – $1.16M
NOI $69,310 @ 7.0% cap · market cap 16.54%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
5
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,104
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60646, IL
28,383
Population
11,636
Households
2.4
Avg Household Size
44
Median Age
58%
College-Educated
95%
High-School Grad
4.4 sq mi
ZIP Area
6,451
Density / Sq Mi
$111,115
Median Household Income
$66,105
Median Earnings
$1,241
Median Rent
$493,600
Median Home Value
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Market
Vacancy Rate% for Office in Chicago, IL
Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Recently updated office building set up for medical or professional services, with a large reception and multiple exam or office rooms.
Where is this medical office space located?
The property is located at 5307 W Devon Ave Chicago, IL.
What is the asking price?
The asking price for this property is $419,000.
What are key features of this property?
This property features: Approximately 2,100 SF office building in a downtown Edgebrook location (built 1958); Recently updated, previously used as a dental office with a layout suited to medical/dental or professional services; Large reception area plus 5 offices and a finished basement
